Nomura Securities Recommends News Corp. (NWSA) as Alternative for CBS and Discovery Bulls
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Price: $29.16 +0.76%
Rating Summary:
23 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on News Corp. (NASDAQ: NWSA) price target of $26.00 (from $24.00)
Analyst, Michael Nathanson, said, "Over the past year, investors have been rewarded for making a counterintuitive buy of News Corp. It is remarkable that since last summer’s collapse of its BSkyB bid amidst the ongoing U.K. phone hacking scandal, shareholders have profited very nicely with NWSA – one of the best-performing media stocks in our coverage (+50% vs. +5% S&P500)."
"By our math, the market is valuing CBS (NYSE: CBS) / Discovery (Nasdaq: DISCA) at an aggregate 2013E EV/EBITDA multiple of 8x and a P/E of 14x. At a minimum, we would expect “Good News” to trade in that range on a P/E basis, which yields a target of at least $24 with another $1-$2 for "Bad News"."
For an analyst ratings summary and ratings history on News Corp. click here. For more ratings news on News Corp. click here.
Shares of News Corp. closed at $23.38 yesterday.
Analyst, Michael Nathanson, said, "Over the past year, investors have been rewarded for making a counterintuitive buy of News Corp. It is remarkable that since last summer’s collapse of its BSkyB bid amidst the ongoing U.K. phone hacking scandal, shareholders have profited very nicely with NWSA – one of the best-performing media stocks in our coverage (+50% vs. +5% S&P500)."
"By our math, the market is valuing CBS (NYSE: CBS) / Discovery (Nasdaq: DISCA) at an aggregate 2013E EV/EBITDA multiple of 8x and a P/E of 14x. At a minimum, we would expect “Good News” to trade in that range on a P/E basis, which yields a target of at least $24 with another $1-$2 for "Bad News"."
For an analyst ratings summary and ratings history on News Corp. click here. For more ratings news on News Corp. click here.
Shares of News Corp. closed at $23.38 yesterday.
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